Dow Jones hits the trend line

• Dow Jones hits an important trend line in daily chart.
• Look how the trend line combines with the 200 DMA to give a double resistance.
• But the index is trading above both these points as of now. 
• Closing above the trend line and the 200 DMA will make the bulls stronger and it is necessary for continuation of this rally.

Dow Jones Trading above 50 DMA

• Dow Jones is trading above 50 DMA and 50 week moving average right now.
• The recent bull rally was resisted by the 50 DMA. But this time that did not happen. 
• The only major hurdle before Dow Jones moving to 10600 is the 200 DMA. Will it be the 200 DMA that stops this rally?. We will know the answer soon.
• DOW WITH FUTURES NEGATIVE DIVERGENCE
  

Dow Jones Futures with negative divergence

• Dow Jones futures has been showing negative divergence for quite sometime.
• But the price confirmation is not happening. 
• So even if there is negative divergence untill the hour chart makes a lower high this market remains buy on dips.

Nifty spot hour chart analysis

UPDATED CHART

• Finding resistance near recent high price level. Should close above it to show the complete strength of bulls.

• Nifty spot hour chart trading near yesterday's high
• Closing above yesterday's high on hourly basis will show the strength of the bulls.

Nifty Futures chart with support and resistance lines

UPDATED CHART

• Nifty futures is trading near important support and resistance lines.
• For more upsides the resistance line needs to be crossed and a close above that on hourly basis is a must.
• But for now it is trading below the support line.
• NIFTY SPOT DAILY CHART ANALYSIS
  

Nifty spot Hour chart

UPDATED CHART

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• It seems we will get a good intraday direction today.
• If it stays below the support line it is going to go down further.

EUR/USD Head and shoulders in hour chart

• Eur/Usd has formed a head and shoulders in hour chart.
• Break down from the neck line will be bearish for the pair.
• Will show its effect on equity markets if it goes down too much.

Nifty daily chart analysis

NIFTY DAILY CHART

• Nifty is still trading above 5 day high ema.
• The doji which i saw yesterday is not visible in chartnexus chart.
• There is a possible raising wedge pattern developing will confirm in the coming days.
• CNX IT BREAKS OUT
  

Dow Jones analysis after closing bell

WEEKLY CHART

DAILY CHART

HALF HOUR CHART

• The price was not allowed to go above the 50 week moving average today.
• And another resistance in daily chart are the fib retrace level of 61.8% and if it crosses that the 50 day moving average is there.
• A Triangle is developing in the in the 30 minutes time frame. One has to be careful because of these resistances the upside break out may end up as a false one. Keep appropriate stop loss for the long trades